Office of the City Clerk - Record #: O2022-4001

• Record #: O2022-4001
• Type: Ordinance
• Status: Repealed
• Intro date: 12/14/2022
• Current Controlling Legislative Body: Committee on Finance
• Final action: 2/1/2023
• Title: Adoption of Tax Increment Allocation Financing (TIF) for Amendment No. 1 to redevelopment plan for expanded Madden/Wells Redevelopment Project Area (Repealed by O2023-995)
• Sponsors: Lightfoot, Lori E.
• Topic: TAX INCREMENT FINANCING DISTRICTS - Madden/Wells T.I.F. - Adoption
• Related files: O2023-995

Date	Journal Page Number	Action By	Action	Result
2/1/2023	60187	City Council	Repealed
1/18/2023	59551	City Council	Passed	Pass
1/12/2023		Committee on Finance
12/14/2022	57232	City Council	Referred

OFFICE OF THE MAYOR
CITY OF CHICAGO
LORI E. LIGHTFOOT
MAYOR


December 14, 2022










TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO


Ladies and Gentlemen:

At the request ofthc Commissioner of Planning and Development, I transmit herewith ordinances authorizing the 1st amendment to the Madden and Wells TIF Redevelopment Project and Plan.

Your favorable consideration of these ordinances will be appreciated.

Mayor
AN ORDINANCE OF THE CITY OF CHICAGO, ILLINOIS ADOPTING TAX INCREMENT ALLOCATION FINANCING FOR AMENDMENT #1 TO THE REDEVELOPMENT PLAN FOR THE EXPANDED MADDEN/WELLS REDEVELOPMENT PROJECT AREA

WHEREAS, the City of Chicago (the "City"), by an ordinance adopted by the City Council of the City (the "City Council") on November 6, 2002, approved a redevelopment plan for a portion of the City known as the Madden/Wells Redevelopment Project Area (the "Original Redevelopment Project Area") for the purpose of implementing tax increment allocation financing ("Tax Increment Allocation Financing") pursuant to the Illinois Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et. seg., as amended (the "Act"); and
WHEREAS, the City Council adopted an ordinance on November 6, 2002 designating the Original Redevelopment Project Area as a redevelopment project area pursuant to the Act; and
WHEREAS, the City Council adopted an ordinance on November 6, 2002 adopting Tax Increment Allocation Financing for the Original Redevelopment Project Area pursuant to the Act; and
WHEREAS, pursuant to the Designation Ordinance (defined below), the City, to encourage redevelopment of areas located adjacent to the Original Redevelopment Project Area, has expanded the boundaries of the Original Redevelopment Project Area and designated such additional project area as a redevelopment project area under the Act to be known as the MaddenATVells Redevelopment Project Area Amendment #1 (together with the Original Redevelopment Project Area, the "Expanded Area"); and
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